His success with his personal wealth allowed him to steer the foundations he is a part of to change their investment portfolios. One, the Lemelson Foundation, was started by his father, Jerome, an inventor who had more than 500 patents. Now, 75 percent of its endowment is in impact investments. “Increasingly, it will become obvious that well-managed investment portfolios don’t give up anything at all,” he said. Figuring out how to execute on their investment thesis was challenging.

Source: New York Times August 28, 2020 15:39 UTC